Binance has dominated the market in 2024 with user fund inflows reaching $21.6 billion—nearly 40% higher than the combined total of $15.9 billion for the next 10 exchanges, according to DefiLlama. This remarkable performance underscores Binance's unparalleled digital asset trading and user trust leadership.
Key Drivers Behind Binance’s Success:
Regulatory Wins and Adoption: Regulatory breakthroughs and increasing global adoption of digital assets have fueled optimism, drawing institutional and retail investors alike.
Innovative Programs: The Binance Launchpool has boosted user engagement, with significant inflows directed toward new token projects.
Market Milestones: Historic approval of Bitcoin ETFs in major markets like the U.S. and Hong Kong has strengthened crypto’s role in mainstream finance, contributing to heightened institutional participation.
With an expanding user base of 244 million, Binance continues to set industry records, including surpassing $100 trillion in lifetime trading volume as reported by CCData. CryptoQuant highlighted that average Bitcoin deposits on Binance rose sharply from 0.36 BTC in 2023 to 1.65 BTC in 2024, reflecting increased institutional activity.
CEO Richard Teng Comments:
"2024 has been a landmark year for the crypto industry. We are grateful to our 244 million users for their trust, which drives us to innovate and deliver unmatched digital asset solutions."